I am not going to claim to be any kind of a hard politics expert, but sometimes the legislation and/or policy proposals can be considered as a kind of negotiations position, and yeah, many of us know that the US Govt has tendencies to act like bullies, and that posturing has probably gotten worse and worse and worse over the years,
Actually the China government had done in a past and stop their mining company in their country.The reason behind the China’s move was to reduce their population to get away from the crypto involvement in the form of cryptocurrency trading ban and the mining of bitcoin was banned.The current price was bear due to this news,I am confused now.If the bear market because of this news,we can’t expect the huge price drop from the 60k mark to 50k mark in the shortest period of time.The United States had influencing the bitcoin price market most of the time.
including that it is a kind of way to project power, but at the same time some of the power projection attempts are not able to be successful in terms of either being put into an actual policy or even having abilities to enforce - while we also know that divide and conquer kinds of enforcement is not an uncommon practice.
The power consumption for the mining will be huge,but the fact is not because of power consumption the government of United States.The government uses the holding power minimum for the transactions.Because the economy of the government was mostly dependent on the bitcoin for now.